INPEX Renewable Energy Joint Venture in Australia Acquires Asset Portfolio

TOKYO, JAPAN - INPEX CORPORATION (INPEX) announced today that Potentia Energy Group Pty Ltd (hereinafter, Potentia Energy), a renewable energy business in Australia in which INPEX holds a 50 percent stake, reached an agreement with CVC DIF and Cbus Super to acquire a portfolio of over one gigawatt (GW) in renewable assets across Australia, and has signed an asset transfer agreement with the two companies.

The portfolio of assets comprises wind, solar and battery energy storage system (BESS) assets that are operational or in the late-stage development phase, across four states and territories. This acquisition enables Potentia Energy to add more geographically and technologically diverse assets to its existing portfolio.

INPEX will continue to play an active role in overseeing Potentia Energy’s growing renewable energy asset portfolio, with the intent to create shareholder value by selecting and developing suitable projects.

The acquisition of a portfolio of renewable energy assets by Potentia Energy is expected to contribute to the energy transition in Australia, which is one of INPEX’s core business areas, and help achieve the country’s net zero targets. Going forward, INPEX will continue to proactively engage in transforming the energy landscape towards the realization of a net zero carbon society by 2050 while fulfilling its responsibility of developing and providing a stable supply of energy.